Sumitomo Mitsui DS Asset Management Company Ltd Purchases 344 Shares of Entergy Co. (NYSE:ETR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Entergy Co. (NYSE:ETR) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,443 shares of the utilities provider’s stock after purchasing an additional 344 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Entergy were worth $2,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after buying an additional 2,075,776 shares during the last quarter. Capital International Investors lifted its holdings in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after acquiring an additional 1,630,057 shares during the period. Millennium Management LLC boosted its position in Entergy by 185.5% in the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock worth $200,804,000 after purchasing an additional 1,219,419 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Entergy by 12.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after purchasing an additional 763,834 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Entergy by 89.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock valued at $114,876,000 after purchasing an additional 506,239 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.35, for a total value of $2,310,720.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,140,475.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,810 shares of company stock valued at $6,140,626. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

NYSE:ETR opened at $135.28 on Monday. Entergy Co. has a 52-week low of $90.78 and a 52-week high of $135.79. The business’s fifty day moving average is $125.66 and its 200 day moving average is $114.89. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.46 and a beta of 0.74.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period in the prior year, the firm posted $1.84 earnings per share. Research analysts predict that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were given a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.34%. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Barclays dropped their target price on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America upped their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, KeyCorp raised their target price on Entergy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.96.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.